EHang (NASDAQ:EH) Stock Price Up 8.5% – Time to Buy?

EHang Holdings Limited (NASDAQ:EH) shares shot up 8.5% on Friday . The company traded as high as $15.30 and last traded at $15.21. 1,000,617 shares traded hands during mid-day trading, a decline of 27% from the average session volume of 1,368,616 shares. The stock had previously closed at $14.02.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on EH shares. UBS Group started coverage on EHang in a research report on Wednesday, August 28th. They issued a “buy” rating and a $22.00 price target on the stock. China Renaissance began coverage on shares of EHang in a research note on Tuesday, September 24th. They set a “buy” rating for the company.

EHang Trading Up 7.7 %

The firm has a market cap of $958.94 million, a P/E ratio of -27.96 and a beta of 0.94. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.25 and a current ratio of 2.39. The stock has a fifty day simple moving average of $15.99 and a 200 day simple moving average of $14.56.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in EH. Hennion & Walsh Asset Management Inc. boosted its position in EHang by 13.1% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 37,519 shares of the company’s stock worth $510,000 after purchasing an additional 4,353 shares during the last quarter. Axim Planning & Wealth boosted its holdings in shares of EHang by 12.5% in the second quarter. Axim Planning & Wealth now owns 4,693,820 shares of the company’s stock worth $63,742,000 after buying an additional 520,733 shares during the last quarter. XTX Topco Ltd bought a new stake in EHang during the second quarter valued at approximately $383,000. SteelPeak Wealth LLC increased its holdings in EHang by 70.7% during the third quarter. SteelPeak Wealth LLC now owns 67,110 shares of the company’s stock valued at $949,000 after buying an additional 27,805 shares during the last quarter. Finally, Quantbot Technologies LP boosted its stake in shares of EHang by 78.2% during the 3rd quarter. Quantbot Technologies LP now owns 9,348 shares of the company’s stock worth $132,000 after acquiring an additional 4,101 shares during the last quarter. 94.03% of the stock is owned by hedge funds and other institutional investors.

About EHang

EHang Holdings Limited operates as an autonomous aerial vehicle (AAV) technology platform company in the People's Republic of China, East Asia, West Asia, Europe, and internationally. It designs, develops, manufactures, sells, and operates AAVs, as well as their supporting systems and infrastructure for various industries and applications, including passenger transportation, logistics, smart city management, and aerial media solutions.